Budget 2014 : Market May Witness Post Budget Rally

Short Term Market Outlook: Once again this week Indian stock market has opened on the positive note and gained as much as on Monday. Nifty again successfully managed to sustain above 7600 level while the 30 Share index Sensex hit triple century on the Monday. In the bullish market banking, oil and gas shares witnessed a sharp upside movement. Upcoming days may me more profitable for trading in market. Gradually resolving Iraq crisis enabled the crude oil to get consolidate.

Short Term Market Trend: Market is expected to remain range bound till the announcement of Modi Government led NDA Budget 2014. Nifty will be trading in the range 7300-7600. We are expecting post-budget rally instead of pre budget rally. Sensex is all set to touch 28,000 level soon in the upcoming trading months.